Park-Ohio Holdings Corp. (NASDAQ:PKOH) Plans Quarterly Dividend of $0.13

Park-Ohio Holdings Corp. (NASDAQ:PKOH) declared a quarterly dividend on Friday, April 19th, Zacks reports. Investors of record on Friday, May 3rd will be paid a dividend of 0.125 per share by the industrial products company on Friday, May 17th. This represents a $0.50 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, May 2nd.

Park-Ohio has raised its dividend payment by an average of 26.0% annually over the last three years. Park-Ohio has a payout ratio of 12.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Park-Ohio to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 12.5%.

Park-Ohio Price Performance

Shares of NASDAQ PKOH opened at $24.56 on Tuesday. The firm has a 50-day moving average of $25.27 and a two-hundred day moving average of $24.80. The company has a market capitalization of $321.00 million, a price-to-earnings ratio of 38.98 and a beta of 1.23. The company has a current ratio of 2.27, a quick ratio of 1.14 and a debt-to-equity ratio of 2.18. Park-Ohio has a twelve month low of $12.34 and a twelve month high of $28.79.

Park-Ohio (NASDAQ:PKOH) last posted its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $389.30 million during the quarter, compared to the consensus estimate of $386.45 million. Park-Ohio had a net margin of 0.47% and a return on equity of 13.45%. During the same period in the prior year, the company posted ($0.09) EPS. As a group, analysts expect that Park-Ohio will post 3.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Park-Ohio

In other Park-Ohio news, Director James W. Wert sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the director now directly owns 89,190 shares in the company, valued at $2,318,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Park-Ohio news, Director James W. Wert sold 1,500 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $25.98, for a total value of $38,970.00. Following the sale, the director now directly owns 82,690 shares in the company, valued at approximately $2,148,286.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James W. Wert sold 1,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the sale, the director now owns 89,190 shares of the company’s stock, valued at approximately $2,318,940. The disclosure for this sale can be found here. Insiders have sold a total of 3,500 shares of company stock worth $91,990 over the last 90 days. Insiders own 33.26% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Park-Ohio from a “strong-buy” rating to a “buy” rating in a research report on Friday.

Park-Ohio Company Profile

Park-Ohio Holdings Corp. provides supply chain management outsourcing services, capital equipment, and manufactured components in the United States, Europe, Asia, Mexico, Canada, and internationally. It operates through three segments: Supply Technologies, Assembly Components, and Engineered Products.